Knowledge Asset Audit

A knowledge audit is a qualitative appraisal and examination of the enterprise’s knowledge ‘health’. It is about determining the knowledge (and actionable information) required to enable competitive success of the business within its targeted markets.

A knowledge audit includes assessment of the following organizational components:

1. Mission-critical knowledge assets (tacit and explicit)

2. Organizational business infrastructure

3. Knowledge-handling business processes

4. Mission-critical decisions

4. Organizational culture and learning environments

Knowledge Asset Audit Focus

A successful knowledge audit answers the following questions:

  • How is knowledge defined in the organization?
  • What knowledge is needed to support the business?
  • Is a glut or lack of knowledge / information impacting effective and efficient decision-making?
  • Where are the knowledge assets?
  • What is the format and media of the knowledge assets?
  • How does that knowledge flow within and outside the enterprise?
  • How is knowledge captured, stored, enriched and exchanged?
  • How is knowledge secured against potential loss?
  • How is knowledge created in the organization?
  • How do workers keep their knowledge from becoming obsolete?

Knowledge Compass Approach

The Knowledge Compass Audit approach includes the below actions:

1. Conduct holistic assessment with key stakeholders to understand the organization’s business, culture, employee universe, products and services, infrastructure and processes.

  • Identify cultural underpinnings and learning points
  • Determine key decisions in support  of business requirements, objectives, and strategies
  • Identify mission-critical knowledge requirements

 2. Identify and map mission-critical knowledge flows within the organization’s business processes:

  • Chart formal and informal knowledge relationships and communication networks; highlight knowledge-centric flows
  • Confirm use and source of knowledge within processes at employee and customer touch points
  • Identify and create inventory of mission-critical knowledge
  • Identify knowledge gaps with knowledge requirements
  • Assess use and value of mission-critical knowledge
  • Identify knowledge obstacles and barriers

3. Formulate recommended actions to improve effectiveness and efficiency of knowledge handling processes.

The Bottom Line

A knowledge audit creates a powerful advantage for organizations who seek a competitive advantage. Benefits include development of knowledge-centric actions to stimulate improved creativity,  innovation and profitability. Specifically a knowledge audit provides recommendations to:

1. Leverage and exploit corporate knowledge assets

2. Enhance and improve quality and consistency of knowledge

3. Mitigate inefficiencies and duplication of current information and knowledge processes

4. Improve worker productivity with more timely access and richness of knowledge

5. Improve strategic and tactical decision-making

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